The Three Advancements of Globalization

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Globalization and its Impact Globalization by definition means the tendency of business, technologies or philosophies to spread around the world, or the process of making this happened. Globalization depends on three keys of advancement, the role of human migration, international trade and rapid movements of capital. Globalization has many pros but yet also many cons that can have a deciding factor in an economy. Many people think globalization still favors the rich and it’s a detriment to countries who emerging in the world and does not have a stable or great economy. According to Bloomberg Business Week Globalization has said to have hit its peak in the year 2007, which ties into the unfolding of the Global crisis. Some Critics and articles have stated that Globalization has changed the culture of many American Companies who go overseas and bring the jobs with them. Globalization brings much risk and much success, and because the world is changing with new innovations it helps the world when we have Globalization. However I do agree that Globalization if it can be changed or altered to help both emerging and developed economies than it can be great for society. Globalization has three advancements stages which are again the role of human migration, international trade and rapid movements of capital. Migration is when people from different countries move to other countries. Some people move because their current living situation may not present many opportunities and their countries may present some human inequalities that can prevent any growth. The Role of human Migration shows that Globalization has a big role in this phase. Some may say that globalization has an effect on this Role of Migration because of the Natural Env... ... middle of paper ... ... overseas countries. Globalization can also be good. In An article written on the Forbes website the author brought up the fact that in emerging countries like India and China have had the middle class grow and about 200 million people from their country rose out of poverty ( Why is Globalization Good). In China middle-class incomes are set to rise threefold, to $5,000, predicts Dominic Barton, a Shanghai managing partner for McKinsey & Co.( Why is Globalization Good). Another Factor that the Article talks about is that Foreign Direct Investment also known as FDI has helped China with its economy. About $600 billion has flooded into China, $70 billion of it in the past year (Why is Globalization Good). Foreign companies build the factories and bring it into China, while the Chinese government supplied all the natural resources need to help the factories succeed.

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